If you haven’t heard of the name “DubLi” in online shopping before, get ready to.  It’s new this year to America and known for its two reverse auctions and vast shopping portal.  On September 12, 2009, a group of customers teamed and successfully won a new 2010 Ford Mustang for just $855.50 in DubLi Unique Bid auction.

The Unique Bid auction is one of two different reverse auctions along with the Xpress.  It features a specified end time with the winner having the lowest and unique bid.  Customers use their 80 cent DubLi credits and bid on 25 cent increments.  For each bid the team made, dubLi would immediately notify them as to whether the bid was lowest and/or unique.  The team had to continue bidding if neither of these conditions were met.

Unlike some other popular auctions the Unique Bid auction does require some strategy.  Auction winners admit that there’s more to it than simply placing one or two bids.  Many savvy bidders will place a range of bids across a likely dollar amount which would cost more in credits but would serve as a hedge against completing bidders.

Actual Mustang Auction Bids

The Mustang auction ended with the auction system starting at $.25 and working upward by 25 cent increments, searching for the amount that only one customer had placed a bid – hence the name “Unique”.  That amount happened to be $855.50 for the Colorado group.  Consequently they paid DubLi that exact amount for the car.  So how can DubLi afford to do this some ask?  Well, DubLi purchases all of the auction items up front and is then compensated significantly through all of the 80 cent bids that are placed while the auction is live.

While DubLi has been a household name in Europe for years, its currently enjoying its introductory year in North America in 2009.  This story will no doubt serve to widen the brands reach and appeal as more online customers flock to this new opportunity.  To become a free DubLi customer contact me at dan@doctordubli.com.